Florida gets low rank in checking business incentives

A report released by a division of the non-profit, The Pew Charitable Trust, looks into how well states track the effects of the incentives they offer to businesses. Regan McCarthy reports Florida ranks in the bottom 26.

According to a Pew Center Survey, Florida is lagging behind other states when it comes to checking into how well its business incentives, like tax breaks, are working. Research Director Robert Zahradnik says every state has at least one tax incentive program, but in tight times, it’s important for each state to know how well their program is working.

“Tax incentives are the primary tool that states use for economic development. So in that regard, understanding which of these work and how to make them work better is critically important for state’s economic development policy and for improving job creating and bringing more investment to the state.”

The Pew study did not consider whether incentives lead to growth, only whether policy makers are studying and considering whether those incentives are working.